07:05 AM EST, 01/14/2025 (MT Newswires) -- G2 Goldfields Inc. ( GUYGF ) , which lost 5% yesterday, on Tuesday announced the filing of an independent technical report dated December 13, 2024, on the company's newly acquired 32,906-acre New Aremu Project, Guyana. Additionally, G2 provided an update on the company's ongoing greenfields exploration program across the entire exploration portfolio.

G2 intends to spin-out its interest in certain greenfields, non-core assets, into a wholly owned subsidiary of G2, G3 Goldfields Inc. (G3), through a plan of arrangement

Following the completion of the proposed Spin-out, the exploration assets to be held by G3 include:

the New Aremu Project (including the historic Wariri Mine), Cuyuni District, Guyana (32,340 acres); the Aremu Mine Property, Cuyuni District, Guyana (8,811 acres); the Amsterdam Option, Cuyuni District, Guyana (7,148 acres); the Tiger Creek Option, Puruni District, Guyana (3,685 acres); and The Peters Mine Property, Puruni District, Guyana (8,316 acres).

It is anticipated that additional gold assets will be acquired for the G3 portfolio, the company said.